Wealthfront Advisers LLC Has $8 Million Stock Holdings in Garmin Ltd. $GRMN

Wealthfront Advisers LLC lifted its holdings in Garmin Ltd. (NYSE:GRMN) by 8.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,483 shares of the scientific and technical instruments company’s stock after buying an additional 2,575 shares during the quarter. Wealthfront Advisers LLC’s holdings in Garmin were worth $8,000,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Reflection Asset Management bought a new position in shares of Garmin in the fourth quarter worth about $32,000. Archer Investment Corp acquired a new position in shares of Garmin during the first quarter worth approximately $37,000. Atlas Capital Advisors Inc. bought a new stake in shares of Garmin during the fourth quarter valued at approximately $34,000. Torren Management LLC bought a new stake in shares of Garmin during the fourth quarter valued at approximately $41,000. Finally, GraniteShares Advisors LLC acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $41,000. Institutional investors own 81.60% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joseph J. Hartnett sold 643 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director directly owned 21,277 shares in the company, valued at $5,607,978.89. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.80% of the stock is currently owned by insiders.

Garmin Price Performance

Shares of NYSE:GRMN opened at $249.86 on Friday. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The company has a 50 day moving average of $238.18 and a 200-day moving average of $233.46. The stock has a market cap of $48.19 billion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 2.97 and a beta of 0.90.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. Garmin’s revenue for the quarter was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities research analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on GRMN shares. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Morgan Stanley set a $249.00 target price on Garmin in a research note on Thursday, April 30th. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Barclays dropped their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Garmin has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.